Side by sideChina Mobile (0941.HK) and China Telecom (0728.HK)Memos of October 12, 2026 and October 23, 2026
China Mobile vs China Telecom stock: side by side (October 2026)
How do China Mobile and China Telecom compare?
| China Mobile 0941.HK | China Telecom 0728.HK | |
|---|---|---|
| Revenue growth | 0.9%2025 | 0.0%2025 |
| Operating margin | 14.2%2025 | 7.5%2025 |
| Free cash flow | 41,421RMB millions · 2025 | 35,162RMB millions; per share in RMB · 2025 |
| Free cash flow yield | 2.8%Today (Oct 12, 2026) | 10.5%Today (Oct 23, 2026) |
| Dividend yield | 6.6%Today (Oct 12, 2026) | 7.4%Today (Oct 23, 2026) |
| P/E, next 12 months | 10.9xToday (Oct 12, 2026) | 11.1xToday (Oct 23, 2026) |
| Weighted price forecast, about 1 year | 79.44 (+6 %)October 2027 | 8.43 (+103%)October 2027 |
| Weighted price forecast, about 3 years | 79.18 (+20 %)October 2029 | 9.63 (+145%)October 2029 |
Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Revenue growth | China Mobile | The higher figure |
| Operating margin | China Mobile | The higher figure |
| Free cash flow | — | The higher figure |
| Free cash flow yield | China Telecom | The higher figure |
| Dividend yield | China Telecom | The higher figure |
| P/E, next 12 months | China Mobile | The lower figure |
| Weighted price forecast, about 1 year | China Telecom | The higher weighted return |
| Weighted price forecast, about 3 years | China Telecom | The higher weighted return |
What does each company do?
China Mobile Limited (0941.HK) sells mobile service, home broadband, enterprise connectivity and digital services to individuals, households, companies and public bodies.
China Mobile (0941.HK), from our memo of October 12, 2026 · China Mobile stock forecast
China Telecom sells mobile, wireline broadband—internet delivered through a fixed physical connection—cloud computing and storage services, and digital solutions to households, businesses and public bodies.
China Telecom (0728.HK), from our memo of October 23, 2026 · China Telecom stock forecast